LIC’s Amulya Jeevan (term insurance) and Jeevan amrit policy
If I take Amulya Jeevan (term insurance) for 25 lacs with 30 years cover,I pay Rs.10850 as premimum per year. (Overall I pay 30 x 10850 = Rs 3,25,500)
If I take Jeevan Amrit for 25 lacs with 30 years and 3 yrs premimum paying term,I pay Rs.142210 (1st yr), 71655 (2nd yr), 71655 (3rd yr) as premimum. (Overall Rs 2,86,620).
So, if I go for Jeevan amrit, I get my 2.86 lac back plus bonus given by company (@30 per 286 = 8580 x 30 = 2.57lac). If it is so, why should I throw away money (total 3.25 lacs) in term insurance? Do you have counter argument? Am I missing something?